Allocating £350 million of dormant assets funding equally across the four English named causes.

The Dormant Assets Scheme is expected to release £350 million for England over 2024 and 2028. The government intends to allocate this money equally between the four causes:

  • £87.5 million for the provision of services, facilities or opportunities to meet the needs of young people
  • £87.5 million for the development of individuals’ ability to manage their finances or the improvement of access to personal financial services
  • £87.5 million for social investment wholesalers (£12.5 million will reach organisations that support improved youth outcomes)
  • £87.5 million for community wealth funds
  • BeardedGingerWonder@feddit.ukEnglish
    1·
    22 days ago

    They should start teaching money management in school though. It’s ridiculous I had to learn about how drastic compound interest is my 30s. I’m not intelligent but I feel like if someone pointed out 20k put away in my teens and early twenties would set me up for financial security later in life and provided me an easy way to ferret that away I’d be a ton less stressed now.